Ruby Creek Resources, Inc.

CIK:0001379810|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended		73 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	May 31, 2012	May 31, 2011	May 31, 2012	May 31, 2011	May 31, 2012
EXPENSES
Mineral exploration and operating costs	$ 695,841	$ 386,166	$ 1,498,643	$ 960,196	$ 3,002,583
Consulting services	164,957	436,007	589,758	628,814	2,212,665
Depreciation	72,419	13,399	120,961	22,419	163,084
Interest and financing fees	66,823	124,265	930,410	380,378	2,506,179
Management services	193,740	576,345	867,400	834,147	2,291,206
General and administrative	474,794	228,755	1,225,444	665,405	3,047,894
Total expenses	1,668,574	1,764,937	5,232,616	3,491,359	13,223,612
LOSS BEFORE OTHER ITEMS	(1,668,574)	(1,764,937)	(5,232,616)	(3,491,359)	(13,223,612)
OTHER INCOME (EXPENSE)
Impairment - Mineral Properties	0	0	(1,930,682)	0	(1,930,682)
Impairment - Equiment	0	0	(300,000)	0	(300,000)
Nonoperating Income (Expense)	0	0	(2,230,682)	0	(2,230,682)
NET LOSS	(1,668,574)	(1,764,937)	(7,463,298)	(3,491,359)	(15,454,294)
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTEREST	29,000	0	50,500	0	50,500
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ (1,639,574)	$ (1,764,937)	$ (7,412,798)	$ (3,491,359)	$ (15,403,794)
NET LOSS PER COMMON SHARE, BASIC AND DILUTED (in dollars per share)	$ (0.03)	$ (0.05)	$ (0.17)	$ (0.12)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED (in shares)	47,256,533	35,942,390	43,789,799	29,843,842

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended		73 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	May 31, 2012	May 31, 2011	May 31, 2012
Cash Flows From Operating Activities
Net loss attributable to common shareholders	$ (7,412,798)	$ (3,491,359)	$ (15,403,794)
Net loss attributable to noncontrolling interest	(50,500)	0	(50,500)
Adjustments to reconcile net loss to net cash (used in) operating activities:
Depreciation	120,961	47,419	163,082
Impairment - Mineral Properties	1,930,682	0	1,940,453
Impairment - Equipment	300,000	0	300,000
Donated services	0	0	3,000
Interest and financing fees, including discount accretion	891,333	372,942	2,450,607
Common stock issued for services	411,710	100,999	736,503
Stock based compensation	798,422	897,440	2,616,823
Net changes in noncash working capital items:
(Increase) - Prepaid expenses	46,877	(14,831)	(190,892)
Increase - Accounts payable	173,501	63,196	639,466
(Decrease) Increase - Due to/from related parties	(20,575)	48,023	112,037
Net cash flows (used in) operating activities	(2,810,387)	(1,976,171)	(6,683,215)
Cash flows from investing activities
Purchase of equipment	(140,660)	(171,962)	(495,513)
Mineral properties and deposits	(238,151)	(331,035)	(1,193,551)
Net cash flows (used in) investing activities	(378,811)	(502,997)	(1,689,064)
Cash flows from financing activities
Issuance of common shares for cash - private placements	240,000	4,300,000	6,689,700
Exercise of private placement warrants for cash	1,007,751	309,500	1,392,251
Exercise of warrant issued in connection with bridge loan for cash	97,500	0	97,500
Exercise of compensation warrants for cash	45,000	0	45,000
Installment loan - proceeds	22,823	22,084	64,407
Installment loan - repayments	(13,578)	(14,077)	(44,404)
Bridge loan - related party	0	0	75,000
Convertible notes - related parties	0	0	100,000
Net cash flows provided by financing activities	1,399,496	4,617,506	8,419,454
Net increase (decrease) in cash	(1,789,702)	2,138,338	47,175
Cash - beginning of period	1,836,877	325,756	0
Cash - end of period	47,175	2,464,094	47,175
Supplemental disclosures
Interest paid	0	289	517
Taxes paid	0	0	0
Conversion of related party debt to shares and warrants	0	0	127,244
Conversion of related party convertible notes and accrued interest to common shares	0	111,000	111,000
Mineral properties acquired - short-term payments	0	0	1,100,000
Mineral properties acquired - long-term payments, net of discount	0	0	3,576,170
Noncontrolling interest	73,700	0	73,700
Mineral properties acquired - fair value of common shares issued	1,440,000	0	3,560,000
Convertible notes issued for property and equipment	2,000,000	0	2,000,000
Assets acquired for assumed liability	325,205	0	325,205
Deferred income tax liability	$ 405,000	$ 0	$ 405,000

CONSOLIDATED BALANCE SHEETS (USD $)	May 31, 2012	Aug. 31, 2011
ASSETS
Cash	$ 47,175	$ 1,836,877
Prepaid expenses and other current assets	212,890	259,768
Total current assets	260,065	2,096,645
PROPERTY AND EQUIPMENT, net of accumulated depreciation of $163,035 and $42,123 , respectively	2,408,429	312,729
MINERAL PROPERTIES	2,377,988	7,141,800
TOTAL ASSETS	5,046,482	9,551,174
LIABILITIES AND EQUITY
Accounts payable and accrued liabilities	558,879	404,941
Installment loan payable	20,288	11,042
Due to Handeni Gold, net of discount	0	1,864,340
Convertible note payable, current, net of discount	549,487	0
Due to related parties	62,037	82,612
Total current liabilities	1,190,691	2,362,935
LONG-TERM LIABILITIES
Due to Handeni Gold, net of discount	0	2,817,692
Convertible note payable, net of discount	321,991	0
Due to Mkuvia Maita, net of discount	325,205	0
Deferred income taxes payable	405,000	0
Total long-term liabilities	1,052,196	2,817,692
COMMITMENTS AND CONTINGENCIES (Note 7)
TOTAL LIABILITIES	2,242,887	5,180,627
EQUITY
Common stock, 500,000,000 shares authorized, par value $0.001; 47,712,949 and 39,576,978 shares issued and outstanding, respectively	47,713	39,577
Additional paid-in capital	18,166,002	12,397,133
Deferred compensation	(78,613)	(104,691)
Comprehensive income from foreign currency translation	49,087	29,524
Deficit accumulated during the exploration stage	(15,403,794)	(7,990,996)
Total stockholders' equity	2,780,395	4,370,547
Noncontrolling interest	23,200	0
Total Equity	2,803,595	4,370,547
TOTAL LIABILITIES AND EQUITY	$ 5,046,482	$ 9,551,174